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CryptoQuant: The net unrealized PNL indicator shows that the market may be approaching a third profit peak.
PANews August 14 news, CryptoQuant analyst Yonseident stated that the NUPL (Net Unrealized PNL) indicator shows that when the value is above 0, most coins are in a profitable state, which may trigger profit selling.
Historically, the peaks of market cycles are usually accompanied by NUPL peaks. There was a peak in the market in 2017, two in 2021, and the current cycle may be forming a third peak. Unlike before, this round of market fluctuations is more stable, mainly influenced by the inflow of institutional funds such as U.S. ETFs. Although the market is more stable, the magnitude of each rise is decreasing, which means the bull market may last longer, but the likelihood of a rapid surge in the short term is relatively low.